A risk register is a document that is used as a risk management tool to identify potential setbacks within a project. This process aims to collectively identify, analyze, and solve risks before they become problems.A risk register document, is also known as a risk register log, tracks potential risks specifically within a project. It also includes information about the priority of the risk and the likelihood of it happening.

A project risk register should not only identify and analyze risks, but also provide tangible mitigation measures. Risk register is mainly created by project manager. A risk register is essentially a table of project risks that allows you to track each identified risk and any vital information about it.

Standard columns included in a project risk register are as follows:

• Identification number (to refer to or identify each risk)
• Name or brief description of the risk
• Risk categories (to determine whether it’s internal or external, material-related or labor-related, etc.)
• Probability (how likely the risk is to occur)
• Impact. (if the risk takes place, how seriously will it impact the project)
• Rating.
• Approach.
• Action. (if you plan to mitigate or avoid the risk, what are the steps involved, and when will they occur)
• Person responsible for overseeing or mitigating the risk.